Carbon Fiber Industry Forecast 2031 | Market Growth and Trends Insight

The carbon fiber market is expected to reach US$ 7.46 billion by 2031 from US$ 4.21 billion in 2023; it is anticipated to register a CAGR of 8.5% during the forecast period. The rising demand from aerospace, automotive, sports equipment, and industrial sectors is likely to bring new carbon fiber market trends in the future.

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Automotive manufacturers seek innovative and high-quality materials for the production of lightweight automotive components that have high mechanical and tensile strength. Carbon fiber is considered as one of the most suitable materials for lightweight automobile part production. Moreover, the carbon-fiber-reinforced composites are used as the essential material to substitute steel and aluminum parts that are heavier in weight and result in reduced fuel efficiency. The use of carbon fiber in the automobile industry has improved fuel efficiency, leading to energy conservation and minimizing carbon dioxide emissions. Leading automotive manufacturers are using carbon fiber for manufacturing components. For instance, a Airbus A350 unit consists of 52% carbon fiber-reinforced polymer (CFRP), whereas a BMW i3 unit has mostly CFRP chassis.

The Carbon Fiber Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

The scope of the Carbon Fiber Market Report:

The research report focuses on the current market trends, opportunities, future potential of the market, and competition in the Carbon Fiber in North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The study also provides market insights and analysis of the Carbon Fiber, highlighting the technological market trends, adoption rate, industry dynamics, and competitive analysis of major players in the industry.

Major highlights of the report:

All-inclusive evaluation of the parent market
Evolution of significant market aspects
Industry-wide investigation of market segments
Assessment of market value and volume in past, present, and forecast years
Evaluation of market share
Tactical approaches of market leaders
Lucrative strategies to help companies strengthen their position in the market

Major key players covered in this Carbon Fiber Market report:

SGL Carbon SE
DowAksa Advanced Composite Material Industries Ltd Co
Formosa Plastics Corp
Hexcel Corp
Hyosung Advanced Materials Corp
Kureha Corp
Mitsubishi Chemical Corp
Solvay SA
Teijin Ltd
Toray Industries Inc

Carbon Fiber Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America

Reason to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Carbon Fiber Market.
Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
The key findings and recommendations highlight crucial progressive industry trends in the Carbon Fiber Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth at a certain extent.

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Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

This release was published on openPR.